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Enforcement Letter

 
Organisation: Financial Supervisory Commission
Issue No.: Financial-Supervisory-Securities-Auditing-1070347060 
Issue Date: 2018/12/27
Content:     Order of the Financial Supervisory Commission

    Issue date: 27 December 2018
    Issue no.: Financial-Supervisory-Securities-Auditing-1070347060

  1. This Order is issued pursuant to Article 5, paragraph 2 of the Regulations Governing Anti-Money Laundering and Countering the Financing of Terrorism for Certified Public Accountants.
  2. The number of hours of anti-money laundering (AML) in-service training attended per year by a certified public accountant (CPA) shall be not less than 3 hours. The above-mentioned number of hours may be counted toward the minimum number of continuing professional education hours required under Article 5, paragraphs 1 and 2 of the Regulations Governing CPA Continuing Professional Education. The above requirement regarding the minimum number of in-service training hours does not apply during the year in which a CPA's first application for practice registration is made. Also, the number of hours of AML in-service training attended per year by the dedicated person designated by a CPA firm in accordance with Article 5, paragraph 1, subparagraph 3 of the Regulations Governing Anti-Money Laundering and Countering the Financing of Terrorism for Certified Public Accountants shall be not less than 3 hours.
  3. The institutions administering the above-mentioned in-service training shall be institutions referred to in Article 4, subparagraph 1, 5, or 8 of the Regulations Governing CPA Continuing Professional Education.
  4. CPA AML in-service training hours shall be treated in compliance with Article 6 of the Regulations Governing CPA Continuing Professional Education, and the National Federation of Certified Public Accountant Associations of the R.O.C. (NFCPAA) shall handle the recordation and filing of training hours. The dedicated persons designated by CPA firms shall obtain documentary proof of in-service training from the institutions from which they receive the training, and the recordation and control of such training hours shall be handled by the CPA firm itself.
  5. If a CPA's AML in-service training hours do not comply with the above provisions, the NFCPAA shall, by the end of March of the following year, notify the CPA to completely make up the hours within 3 months. If the CPA fails to completely make up the hours within that period, the NFCPAA shall report to the FSC in accordance with Article 6, paragraph 4 of the Money Laundering Control Act.
  6. This order is effective from 1 January 2019.
    Official versions: To be posted on the public notice boards of the FSC and the Securities and Futures Bureau of the FSC
    Copies: Legal Affairs Committee, Executive Yuan; FSC (Department of Legal Affairs; Department of Information Management); FSC Financial Examination Bureau; FSC Banking Bureau; FSC Insurance Bureau; Taiwan Stock Exchange Corporation; Taipei Exchange; Securities & Futures Institute; Taiwan Futures Exchange Corporation; Chinese National Futures Association; Taiwan Depository & Clearing Corporation; Taiwan Securities Association; National Federation of Certified Public Accountant Associations of the Republic of China; Accounting Research and Development Foundation of the Republic of China; Taiwan Stock Affairs Association; Lex Data Information Inc.; Root International Information Co., Ltd.; Winkler Partners, Attorneys at Law